Weiss Ratings Reiterates Sell (D) Rating for Hooker Furnishings (NASDAQ:HOFT)

Key Points

• Weiss Ratings has reiterated a "sell (d)" rating for Hooker Furnishings, indicating ongoing negative sentiment from analysts regarding the company’s stock performance.
• Hooker Furnishings' latest quarterly results showed an earnings per share of ($0.31), missing estimates and reflecting a negative return on equity of 4.17% and a net margin of 3.40%.
• Institutional investors hold a significant share of Hooker Furnishings, owning 73.60% of the company's stock, with recent substantial increases in stakes by several key investment firms.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report)'s stock had its "sell (d)" rating restated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Zacks Research cut Hooker Furnishings from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Hooker Furnishings presently has a consensus rating of "Sell".

Hooker Furnishings Stock Up 3.3%

Shares of NASDAQ HOFT opened at $9.48 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 2.99. Hooker Furnishings has a 52 week low of $7.34 and a 52 week high of $19.79. The stock has a market capitalization of $101.91 million, a P/E ratio of -7.83 and a beta of 1.37. The stock's fifty day moving average is $10.13 and its 200 day moving average is $10.05.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.19). Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.The company had revenue of $82.15 million during the quarter, compared to the consensus estimate of $91.21 million. During the same quarter in the previous year, the business posted ($0.19) EPS. Sell-side analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in shares of Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock valued at $110,000 after purchasing an additional 9,400 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Hooker Furnishings by 50.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 120,000 shares of the company's stock valued at $1,270,000 after purchasing an additional 40,000 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Hooker Furnishings during the second quarter valued at about $231,000. Ameriprise Financial Inc. acquired a new stake in shares of Hooker Furnishings during the second quarter valued at about $3,619,000. Finally, PDT Partners LLC acquired a new stake in shares of Hooker Furnishings during the second quarter valued at about $190,000. Institutional investors own 73.60% of the company's stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.

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